FRY, RENÉE A.; MARTIN, VANCE L.; VOUKELATOS, NICHOLAS - In: The Economic Record 86 (2010) 275, pp. 465-485
A structural vector autoregression model is used to identify overvaluation in house prices in Australia from 2002 to 2008. An important feature is the development of a housing sector where long-run restrictions are derived from theory to identify housing demand and supply shocks. The results...